Т. Г. Савченко


Oversea experience of monetary policy rules application is probed in the article. Methodical approaches to development of monetary policy rules in emerging market economies also studied.


Monetary policy rules; central bank; monetary policy.

GOST Style Citations

Taylor, John B. 1993. Discretion versus policy rules in practice. Carnegie-Rochester Conference Series on Public Policy 39:195-214.

Taylor, John B. Using Monetary Policy Rules in Emerging Market Economies //Conference, “Stabilization and Monetary Policy: The International Experience,” November 14-15, 2000, at the Bank of Mexico, December 2000

Taylor, John B. A Historical Analysis of Monetary Policy Rules// University of Chicago Press, January 1999//

Brayton, Flint, Andrew Levin, Ralph Tryon, and John Williams. 1997. The evolution of macro models at the Federal Reserve Board. Curnegie-Rochester Conference Series on Public Policy 47:43-81.

Clarida, R., J. Gali, and M. Gertler. 1998. Monetary policy rules and macroeconomic stability: Evidence and some theory. NBER Working Paper no. 6442. Cambridge, Mass.: National Bureau of Economic Research.

Clarida, R., J. Gali, and M. Gertler. 1998. Monetary policy rules in practice: Some international evidence. European Economic Review 42: 1033-67.

McCallum, Bennett T. (1988), “Robustness Properties of a Rule for Monetary Policy,” Carnegie Rochester Conference on Public Policy, 29: 173-203.

McCallum, B.T., Nelson E. Performance of Operational Policy Rules in an Estimated Semiclassical Structural Model// University of Chicago Press, January 1999//

Brash, Don (1999), “Inflation targeting: Is New Zealand's experience relevant to developing countries?” The sixth L.K Jha Memorial Lecture, June Ball, Laurence (1999), "Policy Rules for Open Economies," in John B. Taylor (Ed.) Monetary Policy Rules, University of Chicago Press.

Batini, Nicolleta, Richard Harrison and Stephen Millard (2000), “Monetary Policy "Rules for Open Economies,” Bank of England Working Paper, September.

Svensson, Lars E. O. (2000), "Open-Economy Inflation Targeting," Journal of International Economics, forthcoming. 50, 155-183.

Freedman, Charles. 1994. The use of indicators and of the monetary conditions index in Canada. In Frameworks for monetary stability, ed. Tomas J. T. Balino and Carlo Cottarelli. Washington, D.C.: International Monetary Fund.

Gerlach, Stefan, and Franks Smets. 1996. MCIs and monetary policy in small open economies under floating exchange rates. Basel: Bank for International Settlements, November.

Duguay, Pierre. 1994. Empirical evidence on the strength of the monetary transmission mechanism in Canada: An aggregate approach. Journal of Monetary Economics 33 (February): 39-61.

Longworth, David J., and Stephen S. Poloz. 1986. A comparison of alternative monetary policy regimes in a small dynamic open-economy simulation model. Bank of Canada Technical Report no. 42. Ottawa: Bank of Canada, April.

Gruen, David, and Geoffrey Shuetrim. 1994. Internationalisation and the macroeconomy. In International integration of the Australian economy, ed. Philip Lowe and Jacqueline Dwyer. Sydney: Reserve Bank of Australia.

Amos Peters. Exchange rate targeting in an estimated small open economy // University of North Carolina at Chapel Hill, April 21, 2009



  • There are currently no refbacks.

Copyright (c) 2014 Т. Г. Савченко

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

ISSN (print) 2306-4994, ISSN (on-line) 2310-8770